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What is World Economic Forum? Whats on agenda for India. It's theme for 2024 and future.

The 54th Annual Meeting of the World Economic Forum held at Davos, Switzerland from 15 - 19 January 2024. The theme of the meeting was 'Rebuilding Trust', which aims to restore collective agency and reinforce the fundamental principles of transparency, consistency, and accountability among leaders. The event witnessed the participation of over 100 countries, major international organizations, the Forum's 1000 partner companies, civil society leaders, foremost experts, young changemakers, and social entrepreneurs.



What is World Economic Forum?


The World Economic Forum (WEF) is a global organization based in Geneva, Switzerland, that convenes individuals, political figures, and business leaders annually to deliberate on crucial matters affecting the worldwide economy. These matters encompass a wide range of topics, including but not limited to political, economic, social, and environmental concerns.


The WEF is most renowned for its yearly gathering, the World Economic Forum Meeting at Davos, held in the Swiss ski resort. This event consistently attracts influential figures from the business and political spheres worldwide, who engage in a series of discussions pertaining to global issues. The COVID-19 pandemic disrupted the regularity of this event, which wad reinstated in 2022.


Past association of India with WEF.(source:investindia.gov.in)


India's association with the World Economic Forum dates back to 1984. Over the years, India has emerged as a resilient, innovative, and agile nation, positioning itself as the world's most attractive investment destination. The WEF has provided an excellent platform for India to showcase the growth stories of its sunrise sectors and foster global connections.


In recent times, India's role at the WEF has evolved from being a participant to a solution provider. The country's ambitious climate action plan, focus on renewable energy, digital transformation, and commitment to inclusive growth have resonated deeply with the global audience.


During the Davos 2023 event, India highlighted the importance of collective action and a shared vision for a brighter future. In commemoration of India's 75 years of independence, 'Azadi ka Amrit Mahotsav', and India's assumption of the G20 Presidency, India enhanced its presence at Davos by occupying three exclusive lounges. These lounges showcased India's investment opportunities, infrastructure landscape, and its story of inclusive and sustainable growth.


Whats on agenda by India in 2024.


India has declared the establishment of the 'Alliance for Global Good-Gender Equity and Equality'. This initiative has been inspired by the G20 Leaders' Declaration and India's unwavering dedication to promoting women-led development, as envisioned by Prime Minister Narendra Modi.


This endeavor is a continuation of the efforts made by the Engagement Group and various initiatives formulated under the G20 framework, including the Business 20, Women 20, and G20 EMPOWER, among others. The primary objective of this alliance is to advance the commitments made by G20 leaders for the betterment of the global community as a whole.


Also, According to the recent United Nations Conference on Trade and Development (UNCTAD) World Investment Report, India continues to be a preferred destination for global investors, attracting foreign direct investment (FDI) worth over $71 billion in the fiscal year 2022-23. Despite the challenges posed by rapidly changing global circumstances, India's gross domestic product (GDP) showed promising growth at 7.2% in the same year. India's participation in the World Economic Forum strengthened its position as a reliable global partner and a resilient economy.

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